IndiaInsurance
25th January 2011, 07:55 AM
The Andhra Pradesh government is planning a legislation that would make it mandatory for microfinance companies to pay a compensation of Rs 5 lakh to families of borrowers who commit suicide because of debt burden. This would raise the liabilities of microfinance companies and compound their problems which they already face in slowing loan repayments after curbs on loans and recovery.
More... (http://economictimes.indiatimes.com/personal-finance/insurance/insurance-news/ap-plans-suicide-cover-wants-mfis-to-foot-the-bill/articleshow/7357738.cms)
More... (http://economictimes.indiatimes.com/personal-finance/insurance/insurance-news/ap-plans-suicide-cover-wants-mfis-to-foot-the-bill/articleshow/7357738.cms)